Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. International Paper Co. shares valued at $20,964 were sold by SULLIVAN KATHRYN D on Apr 30 ’24. At $34.94 per share, SULLIVAN KATHRYN D sold 600 shares. The insider’s holdings dropped to 40,588 shares worth approximately $1.59 million following the completion of this transaction.
Also, SULLIVAN KATHRYN D sold 600 shares, netting a total of over 22,668 in proceeds. Following the sale of shares at $37.78 each, the insider now holds 41,188 shares.
Before that, SULLIVAN KATHRYN D had sold 600 shares from its account. In a trade valued at $23,352, the Director traded International Paper Co. shares for $38.92 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $1.64 million.
As published in a research note from BofA Securities on March 04, 2024, International Paper Co. [IP] has been rated up from an Underperform to a Buy and the price target has been revised to $42 from $37. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late February. Earlier on September 27, 2023, Jefferies upgraded its rating. Their new recommendation was “a Hold” for IP stock which previously was a “an Underperform”.
Analyzing IP Stock Performance
During the last five days, there has been a surge of approximately 11.34%. Over the course of the year, International Paper Co. shares have jumped approximately 8.66%. Shares of the company reached a 52-week high of $41.30 on 05/07/24 and a 52-week low of $32.70 on 02/06/24. A 50-day SMA is recorded $36.85, while a 200-day SMA reached $35.54. Nevertheless, trading volume fell to 8.1 million shares from 28.92 million shares the previous day.
Support And Resistance Levels for International Paper Co. (IP)
According to the 24-hour chart, there is a support level at 38.53, which, if violated, would cause prices to drop to 37.79. In the upper region, resistance lies at 39.70. The next price resistance is at 40.13. RSI (Relative Strength Index) is 66.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.70, which suggests the price will increase in the coming days. Percent R is at 24.82%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
